HiSoft Technology Screams Higher on Q2 Earnings Results

Shares of HiSoft Technology MSFT are trading higher in the after-hours following the release of the company's Q2 earnings results. Currently, shares are higher by 8.94%, trading at $12.55; they ended the regular session higher by 8.47%, at $11.52. HiSoft Technology reported Q2 EPS of $0.18 on revenues of $50.9 million; the Street was looking for $0.18 per share on revenues of $47 million. Revenues increased 46.7% year over year. "In the second quarter of 2011, we experienced strong demand across service lines and geographical markets," said HiSoft Chief Executive Officer Mr. Tiak Koon Loh. "Our confidence in the growth of our business is reflected in our decision to increase full year 2011 top- and bottom-line guidance. In the second quarter, we experienced positive pricing action on contracts signed with some significant clients. Another positive trend in the second quarter was the quicker than expected recovery of our Japan business as more companies in Japan are seeking outsourcing services." HiSoft Technology International Limited is a holding company. The company is a China-based provider of outsourced information technology (IT) and research and development services, primarily for companies in the United States and Japan.